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Assets and liabilities are two of the primary items found on corporate financial statements and balance sheets. Assets vs. Liabilities.Everything your business owns is an asset—cash, equipment, inventory, and investments. What are the Main Types of Assets? Some examples of assets are inventory, buildings, equipment, and cash. Assets are resources that you own, while liabilities are obligations that you have – the difference between them is your equity in the company. A liability is something a person or company owes, usually a sum of money. In simple words, assets are what a business owns, and liabilities are what it owes. Assets vs. Your balance sheet is divided into two parts, assets and liabilities.